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Ken Griebell Joins Ramius as a Director in Marketing and Distribution

Ramius LLC, the global alternative investment management business of
Cowen Group, Inc. (“Cowen”) (NASDAQ: COWN), today announced that Ken Griebell has joined the firm in New York as a Director,
reporting to David Thill, Managing Director and head of worldwide
third party distribution and intermediary relationships at Ramius. In
this newly created role, Mr. Griebell will expand Ramius’
marketing and distribution activities for liquid alternative products to
new and existing customers and grow Ramius’ presence across distribution
channels that focus on mass affluent retail investors.

“We are pleased to welcome Ken to our team,” said Thomas W. Strauss,
President and Chief Executive Officer of Ramius. “Ken’s extensive
relationships and expertise in distributing liquid alternatives will be
invaluable as we market our diverse portfolio of alternative investment
products to investors, including financial advisors and their clients,
many of whom have historically had limited access to these products and
strategies. Ramius’ institutional caliber liquid alternative products
allow access to an important asset class for the mass affluent retail
client and we look forward to building upon Ken’s experience and
relationships to offer these products to this clientele.”

Mr. Griebell brings a wealth of experience, having spent more than 20
years in the financial services industry. He joins Ramius from Equinox
Fund Management
, where he most recently served as Managing
Director of Strategic Accounts. Mr. Griebell received a Bachelor
of Science in Business Administration from The University of Connecticut.

About Ramius LLC

Ramius LLC is a registered investment advisor that manages $11.2 billion
(as of October 1, 2011) in assets in a variety of alternative investment
strategies and is the global alternative investment management business
of Cowen Group, Inc. Information regarding mutual funds offered by
Ramius can be accessed at the following website:

About Cowen Group, Inc.

Cowen Group, Inc. is a diversified financial services firm and, together
with its consolidated subsidiaries, provides alternative investment
management, investment banking, research, and sales and trading services
through its two business segments: Ramius and its affiliates comprise
the Company’s alternative investment management segment, while Cowen and
is its broker-dealer segment. Founded in 1918, the firm is
headquartered in New York and has offices located in major financial
centers around the world.

You should consider the Fund’s investment objectives, risks, charges
and expenses carefully before investing. For a prospectus, or summary
prospectus that contains this and other information about the Fund call
1.877.6RAMIUS (1.877.672.6487). Please read the prospectus or summary
prospectus carefully prior to investing.

The Ramius Funds are distributed by Grand Distribution Services, LLC,
803 W. Michigan Street, Milwaukee, WI, 53233.

Source: Cowen Group, Inc.

Sard Verbinnen & Co
Dan Gagnier/Carissa Ramirez, 212-687-8080